Return to India WhatsApp Group Chat Historical Summary

Here is a date based summary of Return to India WhatsApp group chat over the weeks. Feel free to search for topic of your interest. Hope it helps!

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Fri, 06 Sep 2024

Handling Bank KYC Requirement without SSN

The members discussed how to complete the bank’s KYC requirement without sharing their Social Security Number (SSN). One member mentioned that they were unsure about how to handle this situation.

Bank’s Lack of Knowledge on Spouse’s Non-Residency

• The members talked about a situation where one member’s spouse went outside the USA and became a non-resident but the bank (Marcus) was not aware of this change because the account had a USA address on file.
• It was mentioned that the w8 Ben form was not sent, which could have indicated the change in residency status.
• This lack of knowledge on the bank’s part caused confusion and complications during the tax filing process.

Tax Treaties and Non-Resident Tax Return

• The members discussed that they had paid estimated taxes based on the tax treaty, which allowed for a 15% tax rate on the interest income earned.
• They mentioned filing an extension but were having difficulty finding a CPA who could help them properly file a non-resident tax return.
• The conclusion or recommendation sought by the members was for any recommendations for a CPA who could assist them with their specific tax situation.

Recommendations for CPA

• The members sought recommendations for a CPA who could help them file a non-resident tax return correctly.
• The members were looking for suggestions from the community on finding a reliable CPA.

Sun, 08 Sep 2024

Trading platforms, Taxes, and Relocation

The conversation in the BackToIndia community covered various topics including trading platforms, taxes, and relocation to India.

Members discussed their preferences for platforms like Charles Schwab and Fidelity, the process of managing taxes, and the benefits of holding an RNOR status.

They also shared insights on work opportunities in data analytics and sought advice on customs regulations for moving belongings to India.

Trading Platforms

• Members compared Charles Schwab and Fidelity for managing trading from India.
• No conclusive preference was shared, but it was suggested to explore the features and customer support of both platforms.
• A member inquired about accessing and trading stocks in Robinhood after moving to India.

Taxes and RNOR Status

• Members discussed the process of resetting cost basis while being on NR/RNOR status.
• It was mentioned that changing the tax status requires submitting a W-8ben form to the brokerages.
• The benefits of RNOR status and the potential tax implications on US stock capital gains were explored.

Work Opportunities

• A member expressed interest in finding a work-from-home job in data analytics in India.
• The member shared their experience and sought information about potential job openings.

Customs Regulations

• A member inquired about customs procedures while carrying belongings, including electronics.
• Others advised on the possibility of customs inspections, particularly when traveling alone.
• Advice was given to create a list of carried items to prepare for customs.

Additional Topics

• Members briefly mentioned credit history transfers, work timings for data engineers in Hyderabad, and concerns about taking loans with current interest rates.

Mon, 09 Sep 2024

Shipping and Travel Recommendations in India

The conversation in the BackToIndia community revolved around topics related to shipping and travel recommendations in India. Members discussed the depreciation of old products for customs duty, the safety of carrying electronics during travel, and the affordability of consumer electronics in India.

They also shared their experiences with purchasing tech products in India and compared prices with the US.

Additionally, they sought recommendations for local travel agencies and inquired about the process of relocating a pet dog from the US to India.

Depreciation of Old Products

• Members discussed the depreciation schedule used by Indian customs for calculating customs duty on old products.
• They questioned whether original purchase receipts are required to determine the age of a product during shipping.
• Some members mentioned that really old items (>10 years) would be fully depreciated, resulting in no remaining value and no duty.

Carrying Electronics while Traveling

• Members debated whether the rules of depreciation and customs duty apply only to shipping or also when carrying electronics while traveling.
• Some members shared their experiences of carrying multiple laptops, iPhones, and other gadgets without facing any questions.
• The general consensus was that consumer electronics and white goods are affordable in India, and it might not be worth the hassle and cost of transporting them.

Affordability of Consumer Electronics in India

• Members discussed the affordability of consumer electronics and white goods in India, stating that prices have become more reasonable in recent times.
• They shared specific examples of price variations, such as an Anker Soundcore Bluetooth boom box being significantly more expensive in India compared to the US.
• Some members mentioned stores like Vijay Sales, Bajaj, Reliance, and Sonovision that offer good discounts on home appliances in India.

Tech Deals and Warranty

• Members discussed the availability of authentic and popular deal sites in India for finding good tech deals.
• They highlighted the price difference and better offers available in the US, especially for products like Bose audio devices.
• Members also noted that international warranties are offered on many electronics, and the value of such products tends to depreciate quickly.

Travel Agency Recommendations

• Some members sought recommendations for local travel agencies in India.
• They wanted insights and suggestions for planning travel within the country.

Tue, 10 Sep 2024

Aadhar card for US citizens moving to India

The group discussed the process of obtaining an Aadhar card for US citizens moving to India.

They shared information about the requirement to be in India for 180 days before getting an Aadhar card, the difficulties in finding the right Aadhar center, and alternative options for identification.

Some members mentioned the possibility of using OCI for job purposes but highlighted the challenges of opening a bank account without Aadhar. They also shared experiences of taking valuables like gold and silver to India without issues.

Obtaining Aadhar card for US citizens

• Members discussed the requirement of being in India for 180 days before getting an Aadhar card.
• Some members shared their difficulties in finding the right Aadhar center to apply for the card.

Challenges of using OCI

• The group discussed the challenges of opening a bank account without an Aadhar card for US citizens with OCI status.

Transporting gold and silver to India

• Members shared their experiences of splitting and distributing gold and silver in their regular and cabin suitcases to avoid customs issues.
• Some members mentioned being prepared with bills for customs, although nothing was checked.

Tax planning as an NRI

• There was a brief mention of tax planning as an NRI when investing assets in equity or money markets.

Wed, 11 Sep 2024

Purchasing options for international calls and discussions on shipping charges and household goods

Members discussed options for making international calls, including porting ATT sim to Google Voice or considering other options such as Ultra Mobile.

Some members questioned the need to pay for services like Tello or Ultra Mobile when Google Voice is available for free.

They wanted to know if there was anything they were missing or if there were any specific advantages of other options.

Shipping charges for truck delivery from USA

• A member raised the question if anyone had to pay halting fees while getting a truck delivered from the USA.
  They mentioned that Unirelo was used and no charges for transportation within India were paid, as the booking was done through Universal Relocation.

Buying household items in the US

• Members discussed whether it is worth buying household items like sofas and other furniture in the US.
  One member shared their experience of recently moving and suggested not getting any big items from the US, as it can be a hassle.
  They recommended getting good furniture at great rates from places like Furlenco in Mumbai.
  Another member mentioned that it depends on personal preferences, emotional attachment, and lifestyle. |
  They shared their satisfaction with bringing back some unique and emotionally valuable items to India.
• The conclusion was that unless there is an emotional attachment to certain items or a specific need, it is best to start fresh in India. Some members mentioned the availability and higher price points of furniture and electronics in India.

Moving household goods with air7seas

• A member asked if anyone had used air7seas to move household goods. No one had checked yet.

Thu, 12 Sep 2024

Health insurance, Credit card, Special needs schools

Members discussed topics related to health insurance, credit cards, and special needs schools.

They shared recommendations and preferences, discussing different insurance options, add-ons, coverage limits, and waiting periods.

They also shared information about salary accounts and top-ups. Additionally, they asked for recommendations for financial advisors, CPAs familiar with immigration and tax situations, and discussed shipping TVs and travel to India with US passports.

Health insurance

• Members discussed the importance of having health insurance and recommended getting it prior to moving to India.
  They mentioned a waiting period of 2-3 years for most insurances.
  Some members shared their experiences with insurance providers like ICICI and HDFC, and emphasized the need to communicate with customer service. They also advised looking for room rent limits and no claim bonuses.
  One member chose Care insurance because of their add-ons and lower premium.
• One member expressed doubts about private insurance entities in India and preferred using New India, a semi-government entity.
• There was a discussion about the coverage provided by employers in India, with one member questioning if it was sufficient.

Credit card

• Members asked for recommendations on good credit cards in India.
  One member suggested the Yuva Bharat – Gold plan, mentioning a 10% discount for online sign-ups.
• The conversation also touched upon the importance of price and coverage comparison among different credit card providers.

Special needs schools

• A member asked for recommendations for the best special needs schools. They requested interested members to DM them directly for further discussion.

Fri, 13 Sep 2024

Shipping Delay, 401k Rollover, Visa Waiting, Job Transfer

The chat conversation in BackToIndia group discussed various topics including shipping delays for containers, 401k rollovers, visa waiting times, and job transfers from the US to India.

Shipping Delay

• Members shared their experiences of significant delays in shipping containers from Seattle to India.
• One member mentioned that the packers and movers took their stuff in mid-July, but they just received an updated ETA as the end of November.
• Members advised planning accordingly and being aware of the delays in shipping.

401k Rollover

• Members discussed the process of rolling over their 401k assets to an IRA after losing US resident status.
• One member mentioned difficulties in opening an IRA with Vanguard, Schwab, and Fidelity for investing in mutual funds.
• Another member discussed the possibility of rolling over 401k assets to a Roth IRA to avoid a 10% penalty and withdraw the amount in the future.

Visa Waiting

• A member inquired about references for agents who can arrange an early appointment for a visitor visa to the US for their colleague attending a kid’s graduation.

Job Transfer

• A member sought advice from others who had moved from the US to India regarding continuing to work on the same project/responsibilities under India payroll.
• The conversation revolved around potential issues or advantages of maintaining the same responsibilities.

HSA Money Transfer:

• One member asked about transferring HSA funds from an employer-provided vendor to Fidelity while still employed. Other members replied that it is allowed after leaving the employer, but uncertain while still employed. One member successfully transferred assets via Fidelity after leaving their old employer.

Using HSA for Retirement:

• One member suggested using HSA as a retirement vehicle. Other members recommended investing in funds like VOO or VTI and withdrawing the funds later in retirement.

Using US Credit Cards in India:

• One member mentioned using US credit cards, like the Costco Citi Bank card, in India. Other members added that these cards work well for non-USD transactions, with some recommending the Bank of America travel credit card for better conversion rates and rewards.

401k Rollovers and IRA Post-Resident Status:

• One member asked about the challenges of rolling over a 401k to an IRA after losing US resident status. Other members advised rolling over 401k funds before losing resident status to avoid restrictions, as some platforms limit investment options for non-residents.

Interactive Brokers for Non-US Residents:

• One member asked why Interactive Brokers (IBKR) is a popular choice. Other members responded that IBKR supports non-US addresses and Indian phone numbers, making it more accessible for those relocating to India.

Maintaining 401k or Rolling Over to IRA:

• One member inquired about the advantages of rolling over a 401k to an IRA. Other members explained that some companies charge fees for maintaining 401k accounts after leaving employment, making an IRA a better long-term option for continued access and avoiding fees.

US-Purchased Vacuum Cleaner Working in India:

• One member asked if a US-purchased vacuum cleaner (Roborock Q Revo) would work in India. Other members added that it should work as long as the voltage is compatible.

Shipping Experience from Florida to Pune:

• One member shared their experience of shipping 10 boxes from Florida to Pune using SFL Worldwide. Other members noted that they did not have to send a passport for customs clearance, which can sometimes be required. The shipping process took 3-3.5 months and included household items but no electronics.

Sat, 14 Sep 2024

Shipping, 401k, and Investment Management

Members discussed topics related to shipping household items from the US to India, considerations for brokerage link accounts, conversion of 401k to IRA, and suggestions for voltage converters for TVs.

They also shared experiences with shipping companies, customs clearance, and tax implications of selling 401k. Additionally, they discussed managing investments with Wealthfront and transferring vested equity from brokerage accounts.

Shipping Household Items

• Members shared their experiences with shipping household items from the US to India and recommended shipping companies like UniRelo. They discussed the process of customs clearance and the importance of providing an itemized list for reference.
• One member mentioned their specific experience at the customs check and how the contents of their boxes were randomly checked based on the provided list.
• Another member shared their experience of having their boxes scanned during customs check and mentioned that a generic list for box contents can still pass the customs requirement.

Considerations for 401k and IRA

• Members discussed special considerations for brokerage link accounts and whether the conversion of 401k to IRA is only allowed when leaving the company or the US. They referred to the substantial presence test as a determining factor for tax residency.
• They also discussed the timing of updating the address on the 401k account and filling out the W8-BEN form. Additionally, they inquired about the common choice of Rollover IRA in fidelity to rollover funds from employer accounts.
• Additionally, members discussed the tax implications of selling 401k and sought first-hand experiences from others who have gone through the process. They mentioned working with a CPA and expressed interest in hearing about lower tax payments on effectively connected income.

Suggestions for Voltage Converters

• Members sought suggestions for 220 to 110 Volts converters for TV that support high wattage.
  One member suggested determining the TV’s consumption in wattage and buying a suitable converter.
• The conversation included a discussion on the suitability of transferring funds from bank accounts to the fidelity account brokerage account, specifically for buying funds by selling.
• They also shared information about the criteria for being considered a resident for tax purposes based on the number of days spent in the current year and previous years.

Wealthfront for Investment Management

• Members shared their positive experience using Wealthfront for investment management and considered it better than other brokerage firms.
• They expressed curiosity about others who have used Wealthfront after moving to India and asked for any potential issues or concerns to be aware of.
• One member encouraged everyone to relax and listen to music.

Transferring Vested Equity

• Members working in FAANG companies discussed whether they kept their vested equity in their brokerage accounts or had to move it. There was a suggestion to check if Indian banks can open US brokerage accounts to transfer from existing accounts.
• They also inquired about the implications of keeping equity in the Morgan Stanley account and mentioned the convenience of banking with one bank for all financial needs.

Sun, 15 Sep 2024

Indian Community Financial Planning and Investment Preferences

The chat conversation in the BackToIndia community primarily focused on financial planning and investment preferences among Indian community members. Topics discussed included retirement planning, stocks in India, SWP (Systematic Withdrawal Plan), RR (Registered Retirement) account, and carrying appliances from the US to India.

Retirement planning and investment preferences

• Members discussed the preference of keeping the 401K till 60/65 in the US, while mentioning the high returns on stocks in India.
• The idea of doing SWP in India by selling stocks in the US and investing in hybrid/balanced funds was brought up.
• There was a mention of the tax implications, such as federal taxes with no standard deduction and the need to pull out the entire stash in case of winning a lottery.
• Some members emphasized the potential of making 25%+ returns in India on the first year, offsetting the taxes paid.
• It was acknowledged that each member has their own financial calculations and preferences, with some considering pulling out their investments around 45-50 instead of waiting till 60.

Financial planner recommendations and tax implications

• Members sought recommendations for financial planners, specifically CFP types based in India, for portfolio growth advice.
• There was a mention of the US-India tax treaty, stating that taxpayers are exempt from double taxation and don’t need to pay taxes in India if they have already paid taxes in the US.
• The relevance of RNOR (Resident but Not Ordinarily Resident) status in relation to tax implications was questioned.
• Members discussed the feasibility of carrying appliances (such as TVs and monitors) from the US to India, and which ones are better to carry versus buying in India.
• The compatibility of Dyson Hair Wrap and Straightener with Indian voltage was questioned, and whether they require a voltage converter.

Carrying appliances from the US to India

• A discussion took place regarding the types of appliances that are not easily available in India and therefore better to carry from the US.
• Members shared their experiences and opinions on whether it is more cost-effective to carry certain appliances or simply buy them in India.
• The voltage requirements of appliances, such as the Dyson Hair Wrap and Straightener, were considered when making decisions about carrying versus buying.

Retirement age and life expectancy

• The average life expectancy of an Indian, which is 67, was highlighted as an important factor to consider in retirement planning.
• The potential scenario of letting the kids buy the RR (Registered Retirement) account with the member’s money was brought up.

Mon, 16 Sep 2024

OCI Quota, SUV Options, Hybrid Cars

The conversation covered various topics including OCI quota for professional courses, SUV options under 25 lakhs, and hybrid cars. Members discussed their experiences, preferences, and shared insights on these subjects.

OCI Quota for Professional Courses

• Members discussed the eligibility criteria for OCI students in professional courses.
• They mentioned that the rule stated that OCI students born after March 4, 2021, are only applicable for the NRI quota.
• One member shared information from a couple who filed cases in high court and supreme court, resulting in a judgment stating March 4, 2021, as the last day for GM quota.

SUV Options under 25 Lakhs

• Members shared their criteria for selecting an SUV, including safety, drive, value for money, mileage, resale value, and features.
• Specific SUV models mentioned include Tata Harrier, XUV 700, MG Astor, and Kia Seltos.
• They discussed their experiences, preferences, and mentioned the need for comfort and suitability for Indian driving conditions.

Hybrid Cars

• Members discussed hybrid cars and their features.
• They mentioned Toyota Innova Hycross and MS Invicto as examples of strong hybrid options.
• They also shared insights on vehicle size, fuel efficiency, and experiences with different car models.

Tue, 17 Sep 2024

Discussion on Hybrids, Delay in OCI, and Settling in India

Members of the BackToIndia community discussed a variety of topics including the popularity of hybrids, the delay in OCI applications, and their experiences of settling in India.

They also shared their thoughts on home ownership, celebrating festivals, and the challenges and benefits of moving from the US to India.

Popularity of Hybrids

• The Innova HyCross has been successful and has a waiting period of over 6 months, indicating its popularity.
• Scorpio N and Thar have long wait times due to production volumes, whereas KIA and Maruti have higher demand.
• The success of hybrids is measured by waiting times, which reflect positive word-of-mouth and customer satisfaction.

Delay in OCI Applications

• One member mentioned waiting since June for their OCI application.
• They speculated that the waiting time for OCI applications may be prolonged.

Settling in India

• Members shared their personal experiences of settling in India after living abroad.
• One member mentioned struggling with health issues initially, but now feels settled and comfortable.
• Home ownership, celebrations with family, and a comfortable lifestyle were cited as benefits of living in India.

Life in India for Upper Middle Class

• Upper middle-class members stated that life in India is comfortable and affordable.
• They mentioned advantages such as access to amenities, domestic help, and cultural celebrations.
• Challenges like traffic and crowded public spaces were acknowledged but seen as acceptable trade-offs.

Reassurance and Encouragement

• Members appreciated and found encouragement in the stories and experiences shared.
• They mentioned feeling positive about their decision to move to India.

Wed, 18 Sep 2024

GoogleFi, House Help, Indian Stocks, Transport Insurance, Finding Job

Members discussed topics related to GoogleFi, house help, investing in Indian stocks, transport insurance, and finding a job in India.

GoogleFi

• Members discussed using GoogleFi in India and its convenience for calls and SMSes.
• One member mentioned regularly receiving SMS OTPs and calls on the number.
• The cost of using GoogleFi in India and checking the terms of service were also brought up.

House Help

• Members shared their feelings of guilt about having house help for chores they used to do themselves while abroad.
• Different perspectives were mentioned regarding the luxuries of life in India and the economy.
• The discussion concluded with one member feeling that they might be overthinking the situation.

Investing in Indian Stocks

• A member sought feedback on investing in Indian stocks while staying in the US.
• The discussion expanded to include tax implications and FBAR filing requirements.
• The goal was to gather information for others who were already investing in Indian stocks before moving back.

Transport Insurance

• Members sought advice on whether it made sense to take transport insurance while moving back to India.
• Mixed reviews of insurance were discussed, particularly regarding the claim process.
• One member shared their experience of shipping boxes through a relocation company and the boxes being opened at customs.

Finding Job

• Members discussed the experience of finding a job in India after quitting their job before relocation.
• The ease of getting interviews and SWE interviews were topics of interest.
• The usage of LinkedIn in India for job connections was also mentioned.

Thu, 19 Sep 2024

TV Voltage Converters, Credit Cards, Stock Market

The conversation in the BackToIndia community mainly revolved around three topics: TV voltage converters, credit cards, and investing in the Indian stock market.

TV Voltage Converters

• Members discussed whether voltage converters are necessary when using TVs bought from the US in India.
• Some members recommended buying Sony TVs as they don’t require converters. Samsung TVs, on the other hand, usually need step-down converters.
• It was mentioned that TV standards in India are PAL, not NTSC, so users may need to switch settings.

Credit Cards

• Members shared their experiences and preferences regarding credit cards in India.
• Some mentioned obtaining SBI RuPay cards with a 20k limit and no CIBIL score requirement.
• Others discussed applying for credit cards against fixed deposits or using Indian income.
• There was also a mention of disappointment with rewards programs on top-tier cards.

Investing in Indian Stock Market

• A member, who is a US citizen, asked for guidance on investing in the Indian stock market.
• Other members suggested opening accounts with ICICI or using local banks for trading.
• It was mentioned that websites like Zerodha may not be accessible for non-resident individuals (NRIs).

Fri, 20 Sep 2024

Investing, Taxes, Shipping Mattresses to India

Members of the group discussed investing in India, taxes on investments, and the shipping of mattresses to India.

Investing in MFs and NIFTY ETF

• Members discussed investing in Mutual Funds (MFs) and whether investing in NIFTY ETF also attracts taxes on notional gains.
• It was mentioned that investing in MFs in India attracts taxes on notional gains, while holding individual stocks does not.
• The topic of taxes on Foreign-domiciled ETFs being considered Passive Foreign Investment Companies (PFICs) under Fatca taxation was raised.

Shipping Mattresses to India

• Members discussed the possibility of shipping mattresses to India using heavy-duty mattress bags available on Amazon.
• Concerns were raised regarding the potential for damage during transportation and whether it is worth the cost.
• One member shared their experience of successfully shipping a standard mattress through ship cargo, while another recommended checking the manufacturer’s suggestions for storage and transport.

Comparison of Indian and US Mattresses

• Members discussed the difference in quality and cost between mattresses in India and the US.
• It was mentioned that Indian mattresses are generally more expensive and may not offer the same level of comfort as those in the US.
• A member suggested shipping the mattress from the US if comfort is a priority, but others advised considering the wait period until the item arrives and the potential need to manage without a mattress in the meantime.

Advice on Shipping Mattresses

• A member advised discarding the bed frame and mattress from the US and purchasing a bed frame and coir mattress in India for better health benefits.
• They mentioned that fitting an Indian mattress onto a US bed frame may not be suitable and recommended buying locally.
• Another member commented on the design of spring mattresses in the US and the use of sleep medications, suggesting that local mattresses may be more suitable.

Logging into Social Security Website from India

• A member sought guidance on logging into the Social Security website from India after recent changes.
• They inquired about using login.gov or ID.me for authentication and which phone service to use.
• It was mentioned that Google Voice or any VOIP services cannot be used, but it is unclear whether an India number can be used.

Sat, 21 Sep 2024

Discussion on Hiring at Illumina, Mattress Preferences, Indian MFs for OCI holders, and Taxes for NRIs

The chat conversation in BackToIndia community included discussions on various topics such as hiring at Illumina, preferences for mattresses, investing in Indian mutual funds for OCI holders, and taxes for NRIs.

Hiring at Illumina

• Members discussed the hiring opportunities at Illumina in Bangalore and suggested applying through LinkedIn Jobs or the company website.
• One member who has been with Illumina for more than 10 years recommended it as a great company to work for.

Mattress Preferences

• Members shared their mattress preferences and experiences. One member mentioned buying a latex mattress from wakefit but had backache and switched to a coir mattress from curl on, which they found more comfortable.
• Another member recommended Duroflex firm mattresses, especially for individuals with back issues.

Investing in Indian MFs for OCI holders

• A member asked for recommendations on a good platform to invest in Indian mutual funds for OCI holders.

Taxes for NRIs

• Members discussed various tax-related aspects for NRIs investing in Indian stocks directly via NRE/NRO accounts or DeMATs.
• Some specific questions were asked regarding precautions for taxes, dividends, realized gains, unrealized gains, and filing FBAR.

Sun, 22 Sep 2024

NRI Investment in Mutual Funds

Members discussed NRI investment in mutual funds and potential options

NRI eligibility for Indian mutual funds

• Discussed rules limiting NRI’s purchase options to just mutual funds in Indian apps
• Questioned whether the rule was set by the Indian or US government
• Mentioned article listing a few Fund Houses that allow NRI investment in mutual funds

Investing in US mutual funds for non-US residents

• Asked if there are US brokerage firms allowing non-US residents to purchase US mutual funds
• Suggested contacting Schwab International for more information
• Recommended discussing with Schwab IRA as each institution has its own quirks

Transferring cash from US to India

• Inquired about the best way to transfer cash from the US to India
• Desired to use cash from US investments for rent, car, school fees, and daily expenses in India

Vendor supporting PFIC while filing ITR

• Questioned if anyone has a vendor who supports PFIC while filing ITR in the US

FATCA reporting by India based financial institutions

• Asked how to find out if an India based financial institution filed a FATCA Report with US IRS
• Wanted to ensure FATCA reporting is done before filing FBAR

Mon, 23 Sep 2024

Banking and Personal Finance Discussions

The chat conversation in the BackToIndia community revolved around banking services, money transfers, personal finance apps, and opening bank accounts.

ICICI Money2India and HDFC Bank

• Members discussed their experiences with ICICI Money2India for NRI bank account transfers.
• One member mentioned having a regular account with HDFC and inquired about its suitability for transfers.
• No conclusion was reached about the superiority between ICICI and HDFC for fund transfers.

Best Accounts for Wire Transfers

• Members shared their preference for using Chase and Citi bank accounts for wire transfers.

Personal Finance Apps in India

• Members discussed the need for personal finance apps similar to Empower in the US.

Local Tour Operators in Rajasthan

• A member requested information about local tour operators in Rajasthan for a family trip to Jaipur and Udaipur.

Opening Bank Accounts with Traveling Mailbox Addresses

• A member shared their experience of facing difficulties in opening a Chase account due to using a Traveling Mailbox address.
• Suggestions were given to use a relative’s or friend’s address with their consent.

Wed, 25 Sep 2024

Gold Customs Charges and Step-down Transformers

Gold Customs Charges

• Members discussed the custom charges on carrying gold and suggested avoiding big banks like HDFC.
• Axis and Kotak Mahindra were recommended as alternatives.

Step-down Transformers

• A member inquired about suggestions for a 220V to 110V step-down transformer with a capacity of around 2000W.
• Another member mentioned using a 3000W transformer for coffee machines and kitchen appliances, and 1500W transformers for television sets and speakers.

401k Withdrawal Penalty

• A member brought up the topic of 401k withdrawals and mentioned an option to avoid the 10% withdrawal penalty by initiating SEPP (Substantially Equal Periodic Payments).
• Another member highlighted the disadvantages of SEPP, mentioning that it’s a long-term commitment and if rolled back, it incurs a 10% penalty on previous withdrawals.
• Members discussed the potential exemption from the penalty for individuals who left the country and are not US citizens. They suggested checking with Canadian friends for more information.

US CPA Recommendations

• A member shared a recommendation for a company called Walkthrough, specifically mentioning Jaydeep Sanghani as a knowledgeable US CPA based in Surat.
• The member asked if anyone had experience with Walkthrough or if there were other recommendations for US CPAs specialized in India-US cross-border tax matters.

Thu, 26 Sep 2024

Insurance, 401k Withdrawal, OCI Rules, Appointment Slots

Members discussed various topics including insurance policies, taxation on 401k withdrawals, changes in OCI rules, and booking appointment slots for visa applications.

Insurance policies

• Members talked about the low claim payout rate of term insurance policies due to policy lapses.
• They suggested finding cheaper policies from B+/A rated providers and requesting quotes from different providers.

401k withdrawal taxation

• A member asked for help or referral to a CA who can provide information on reducing taxes and penalties during 401k withdrawals.
• Others expressed interest in knowing about any new rules and how it affects OCI holders.

OCI rules

• Members discussed news regarding changes in OCI rules, but identified it as old news from 2021.
• They shared links to verify the news on the Ministry of Home Affairs website, stating that the reclassification of OCIs as foreigners is false information.
• Members expressed surprise that such rules were not already in place for OCIs.

Booking appointment slots

• Members shared tips and experiences on booking appointment slots for B1/B2 visas.
• One member mentioned using an agent who successfully secured slots for them and their friends.
• The cost of such services was discussed, ranging from ₹10,000 to ₹80,000, with varying levels of trustworthiness.

Fri, 27 Sep 2024

Stock transfer, Instant Pot, Packing Furniture

The members discussed stock transfer from Interactive Broker USA to India, taking Instant Pot from US to India, and packing furniture and household goods for ocean shipment.

Stock Transfer from USA to India

• Members discussed the possibility of transferring stocks from Interactive Broker USA to India without selling them.

Taking Instant Pot from US to India

• One member mentioned that the same brand of Instant Pot with 220v input is available in India.
• Another member requested for recommendations of Instapot models available in India.

Packing Furniture/Household Goods for Ocean Shipment

• Members discussed using Air7seas for ocean shipment and doing the packing on their own.
• One member asked for recommendations on packing furniture in the Bay Area.
• Some members shared their experiences with packing items and mentioned using kits from places like u-haul for fragile items or TVs.

Sun, 29 Sep 2024

Discussion on B2 Visa and Payscale in Bangalore

Members discussed about B2 visa application process and reliable payscale data for Bangalore area.

B2 Visa Application

• Members discussed the process of filing a B2 visa for a niece who wants to visit for holidays. It was suggested that she can file the application herself under ‘visiting a relative’ purpose of travel, along with providing proof of her status.
• There were no issues mentioned regarding her intention to stay in the US and her own business in India.

Reliable Payscale Data in Bangalore

• A member asked about the reliability of levels.fyi data for payscale in Bangalore. They wanted to know about others’ experiences.

Mon, 30 Sep 2024

Job Search and Tips for Moving Back

Members of the group discussed job search strategies and tips for moving back to India. They shared experiences with referrals, direct applications, and the challenges in finding Product Management roles. Bangalore was noted to have more options than Hyderabad for Product roles. A member offered to forward a highly technical PM role in Seattle, but relocation would take time. It was mentioned that most companies have shifted to hybrid or on-site work, with remote jobs decreasing.

Job Search Strategies

• Members discussed the effectiveness of reaching out to LinkedIn contacts for referrals but expressed that it has been slow with no calls received yet.
• One member shared their experience of trying friend referrals and direct applications on Naukri, but only managed to secure one interview that did not progress further.
• The preference for engineering roles over product management roles was noted.

Product Management Opportunities

• It was mentioned that product management roles are relatively new in India and are more commonly found in India-based companies that require local expertise.
• International experience may not be a top priority for these companies.
• Bangalore was highlighted as having more options for product management roles compared to Hyderabad.

Referral for PM Role in Seattle

• A member shared that they know of a highly technical PM role in Seattle but mentioned that relocation would take time, around 2026.
• Interested individuals were invited to DM the member for more details.

Shift to Hybrid and On-site Work

• It was mentioned that most companies have transitioned to hybrid or on-site work arrangements.
• Remote job opportunities are decreasing, with Amazon being noted as a catalyst for this trend.

Tue, 01 Oct 2024

Product Manager Role and Electrical Appliances

Members discussed topics related to product manager roles and using electrical appliances in India.

Decent pay range for product manager role in Chennai or Bangalore

• Members discussed the expected salary range for a mid-level product manager role in Chennai or Bangalore.

Using Alexa in India

• Members discussed using Alexa in India and whether an adapter plug is sufficient.
• One member mentioned that they brought their Alexa from the States and it worked fine without a voltage converter.
• Another member clarified that they used a regular adapter/plug for US type pins, but did not use a voltage converter.

Using electrical appliances with Indian sockets

• Members discussed using electrical appliances with Indian sockets.
• One member mentioned blowing a fuse while using an adapter plug for a lamp.
• Another member suggested changing the voltage of the bulbs for the lamp to avoid any issues.

Bringing a large TV with Qatar

• Members discussed bringing a large TV with Qatar and the mixed responses from agents regarding charges and whether it’s allowed.

Wed, 02 Oct 2024

Selling car in the US for R2I

Members of the BackToIndia community discussed recommendations for selling a car in the US before returning to India.

Options for selling cars

• Members mentioned Caravana, CarMax, and using nearby used car dealers as potential options.
• Local dealers were said to involve negotiation and haggling, making the process less smooth.
• Online dealers like CarTrackers were mentioned as a convenient choice with no haggling, video evaluation, and home pick up.

Getting the best offer

• One member shared their experience of obtaining quotes from both local and online dealers for comparison.
• The member mentioned how a local dealer gave the best quote, but the process of driving the car to their showroom was inconvenient.
• To get a better offer, the member used the price from the local dealer to negotiate with an online dealer.

Avoiding haggling

• A member stated that they wanted to avoid spending a lot of time haggling on the price.
• They checked the KBB value and contacted multiple dealers and websites for price comparisons.
• The member found that local dealers often reduced their offer after evaluating the car, while online sites maintained their price.

Thu, 03 Oct 2024

Selling Cars and Consulting Nupur Dave

Members discussed selling cars and the experience with different buyers like Carvana, private parties, and car dealers. One member mentioned getting a higher value on Facebook Marketplace. They also shared the process of transferring title and ensuring no liability after the sale.

Selling Cars

• Members shared their experiences with different car buyers, such as Carvana, private parties, and car dealers.
• One member mentioned getting a higher value on Facebook Marketplace.
• The market value degradation of a Tesla EV was discussed.

Consulting Nupur Dave

• Members discussed their experiences with Nupur Dave and mentioned that she seemed authentic in sharing her experience.
• The cost of a single 90 min session with Nupur Dave was mentioned to be $375.
• One member advised utilizing the helpfulness and experience of the R2I community instead of consulting Nupur Dave.

Fri, 04 Oct 2024

FBAR, Immigration Health Checkup, Dual Citizenship, Kitchen Garbage Disposal

Members discussed topics related to FBAR, immigration health checkup, dual citizenship, and kitchen garbage disposal.

FBAR

• Members inquired about finding a good CPA who can help with FBAR.

Immigration Health Checkup

• A member asked for guidance on the immigration health checkup and specifically mentioned the vaccination requirements, including the latest COVID vaccine.

Dual Citizenship

• Members discussed the pros and cons of having one child as a US passport holder and the other as an Indian.

Kitchen Garbage Disposal

• A member inquired about installing a kitchen garbage disposal in India and the compatibility with 220 volts.
• The confusion arose as the garbage disposal was imported from the US by an Amazon seller.

Sat, 05 Oct 2024

Keeping and renting houses when moving to India

Members discussed the idea of keeping their houses after moving to India. They considered renting it out to cover the mortgage and for potential future use by their children who are US citizens. They wanted to know if there were any challenges with this approach.

Renting out houses

• Members shared their experiences of renting out their houses and using local property management companies.
• They discussed paying around 4-5% of the rent to the property management.
• The importance of choosing a high-demand area to ensure finding tenants easily was highlighted.

Tax implications

• The members discussed the process of filing taxes for rental income in the US and the use of DTAA to avoid double taxation.
• They mentioned that during the RNOR status, rental income needs to be declared in US taxes.
• They also mentioned the long-term capital gains tax exemption if the house was a primary residence for 2 out of the last 5 years.

Factors influencing selling decision

• One member shared their reasons for considering selling the house, including confirmed plans of not returning to the area, hassle of maintenance, uncertainty of children living there, and taking advantage of tax savings on long-term capital gains.
• The decision was subjective and dependent on individual preferences.

Sun, 06 Oct 2024

Investment, Taxes, Visa Slots, IT Work Week, Aadhar

Members discussed topics related to investment, taxes, visa slots, IT work week, and Aadhar.

Investment and Taxes

• Discussion on how investment and taxes are different.
• Acknowledgement that taxes are just one consideration for divestments.

Visa Slots

• A member asked for agent contact details to help with visa slots at the US consulate in India.

Aadhar and IT Refund

• A member shared their experience of their IT refund being withheld due to non-linkage of PAN and Aadhar.
• The member mentioned not having an Aadhar and seeking advice from others.

IT Work Week

• A member asked if India now has a 10-hour work week in IT companies, specifically in Chennai.
• Another member responded that they haven’t heard of this.

Aadhar for Kids

• A member mentioned that if a kid has stayed in India for 180 days continuously, they are eligible for an Aadhar card.

Mon, 07 Oct 2024

Choosing CBSE/ICSE/IB Schools and Selling Property in Non-Resident Status

The conversation revolved around two main topics – choosing between CBSE/ICSE/IB schools and the process of selling property in non-resident status.

Choosing Board of Education for Kids

• Members discussed the pros and cons of CBSE, ICSE, and IB schools.
• Some members preferred CBSE/ICSE for its suitability for Indian higher education and language compatibility.
• Others suggested IB schools for easier international transition and school selection based on factors like campus, teaching methods, and extra-curricular activities.

Selling Property in Non-Resident Status

• A member inquired about selling a property in the US while in non-resident status.
• The discussion focused on the tax considerations, such as FIRPTA tax withholding, for non-resident aliens selling US property.
• Members also shared insights into the rental yield difference between India and the US.

Tue, 08 Oct 2024

Advantages and Disadvantages of US Citizenship and Financial Considerations

Members of the group discussed the advantages and disadvantages of US citizenship, particularly in terms of ease of travel and global income taxation. They also mentioned the financial considerations involved, such as estate taxes and filing both India and US taxes. There was a suggestion to research further and find workarounds for asset liquidation. The conversation also touched on the handling of Costco Executive membership and Costco Citi Credit card, with one member recommending the usage of Citi card in India for its exchange rate and payment options. Lastly, there was a question about the rollover process from Fidelity 401k to Fidelity IRA after moving back to India.

Advantages and Disadvantages of US Citizenship

• Members discussed the advantages of US citizenship, such as ease of travel back and forth to the US and global travel convenience with fewer visa requirements.
• They also mentioned the disadvantage of US taxation on global income.

Financial Considerations of US Citizenship

• There was a conversation about the taxation aspect for individuals who don’t earn much in the US but live in India.
• Members mentioned the requirement to file both India and US taxes annually.
• One member shared information about the federal estate tax threshold for US citizens in 2024.

Handling of Costco Membership and Citi Credit Card

• Members discussed what to do with their Costco Executive membership and Costco Citi Credit card.
• One member suggested that the Citi card can be used in India, mentioning its favorable exchange rate and monthly payment option.
• Regarding the Costco membership, it was noted that it will automatically close if not renewed.

Rollover from Fidelity 401k to Fidelity IRA

• A member inquired about the process of rolling over from Fidelity 401k to Fidelity IRA after returning to India.

Wed, 09 Oct 2024

Tax Planning, Investing in Startups

Members discussed tax planning and the importance of finding a tax consultant who can help minimize taxes, handle paperwork, and represent them in audits. They also discussed potential issues with opening an IRA from India and limitations with Fidelity once residing outside the USA.

Tax Planning and Consultants

• Members sought advice on finding a tax consultant who can provide comprehensive planning, minimize taxes, and assist with paperwork. They emphasized the importance of proper representation during audits.
• Example: ‘Looking for a tax consultant who can plan and minimize my taxes while providing representation during audits. Any recommendations?’

Opening an IRA from India

• Members discussed potential issues with opening an IRA from India, specifically with Fidelity. They shared information about limitations on buying new investments once residing outside the USA.
• Example: ‘Is it problematic to open an IRA from India? Fidelity restricts buying new investments outside the USA.’

Investing in Startups

• Members expressed interest in investing in startups in India. One member shared their experience signing up for investment interest in a startup and offered to refer others offline. They discussed platforms and formed the idea of creating an R2I Angel Network.
• Example: ‘Curious about investing in startups in India. Any recommendations for platforms? We can discuss offline.’

WhatsApp and Phone Numbers

• Members discussed the transition to an Indian WhatsApp number upon returning to India. Some members mentioned using both Indian and US WhatsApp numbers.
• Example: ‘Did you change your WhatsApp to an Indian number immediately upon returning or are you using both Indian and US numbers?’

Thu, 10 Oct 2024

Phone options and investment strategy

Members discussed different options for phone services in India and the best strategy for managing investments.

Phone options

• Some members recommend keeping a US phone active for OTPs and investment management.
• The use of Google Voice and Google Fi as alternatives was discussed, with concerns about their long-term viability.
• One member mentioned using AT&T as their US phone provider.

Investment strategy

• Members discussed the best way to distribute 401k funds for maximum returns.
• The importance of updating resident status in Indian banks was debated, with FEMA suggesting immediate updates.
• The cost of US phone plans and the benefits of group or family plans were also discussed.

Fri, 11 Oct 2024

US Taxation and International Shipping

The members of the group discussed US taxation on Indian income and the possibility of direct deposit of US Social security checks to an Indian bank. They also talked about using vacuum storage bags for linen and bedding when using Air7seas for shipping.

US Taxation on Indian Income

• Members discussed the concept of ‘Foreign earned income exclusion’, which exempts individuals from paying US tax on Indian income (up to $120k) if they have spent more than 330 days in India.
• It was confirmed that this exemption applies only if the income is deposited into an NRE/NRO account.
• One of the members mentioned that being Indian, they won’t need to pay tax in the US in the future and are currently filing US returns for 2023.

Direct Deposit of US Social Security Checks to an Indian Bank

• A member inquired if anyone in the group is availing US Social security checks while in India and if it is possible to directly deposit these payments into an Indian bank.

Vacuum Storage Bags for Shipping with Air7seas

• A member mentioned using Air7seas for shipping and wanting to use vacuum storage bags for linen and bedding, to save space.
• They asked if this would be acceptable by Air7seas for insurance purposes.

Compatibility of Google Voice with Fidelity and Chase

• A member inquired about the compatibility of Google Voice with Fidelity and Chase, presumably for making calls or other related communication.

Sat, 12 Oct 2024

Discussion on Taxes and Notarizing Power of Attorney

In the conversation, the members discussed topics related to taxes and notarizing a Power of Attorney for a property sale in India while being in the US.

Taxes on Global Income

• Members talked about how the USA taxes global income and the possibility of claiming tax credit if taxes were paid in India.
• They discussed the concept of tax residency and the requirement to file and show global income for both India and the USA.
• Members mentioned that the country where income was earned gets to tax first, and one can take credit for taxes paid in another country.

Converting American Bank Account to International

• A member inquired if anyone has experience converting an American bank account, specifically with Bank of America, into an international bank account.

Notarizing Power of Attorney for Property Sale in India

• A member sought advice on notarizing a Power of Attorney for a property sale in India while residing in the US, specifically in California.
• They mentioned the difficulty faced with the notary process as California uses a separate sheet while India requires notarization on the original document.
• Another member suggested trying a different approach, but it is unknown if the suggestion was followed or successful.

Sun, 13 Oct 2024

CPA Recommendations and Tax Questions

Members of the BackToIndia community are searching for knowledgeable CPAs for India and US taxation. They have expressed doubts about two recommended CPAs, Tejaswi E&Y and Vaibhav Sankla, due to unclear responses and a pushy approach from their colleagues.

RNOR Status and Tax Credits

• Tejaswi E&Y seemed unclear about RNOR status and gave conflicting responses regarding tax credits.
• The member emphasized the importance of understanding the basics and not being loose with them.
• There was a discussion on why tax credits are necessary for individuals in RNOR status.

Inheritance Tax and Capital Gains Tax

• Members discussed the concept of inheritance tax and its calculation.
• The example of parents leaving a house worth $500,000 and the corresponding inheritance tax was mentioned.
• Capital gains tax and its implications were also discussed, using the example of selling the inherited house for a higher price.

Importance of a Competent CPA

• The need for a competent CPA to provide valid and reliable answers to tax questions was highlighted.
• Members acknowledged that reliable and solid answers come at a higher cost.
• A document regarding US taxes and inheritance for non-US residents was shared, shedding light on the topic.

Mon, 14 Oct 2024

Taxation and Account Conversion

Members discussed taxation on selling 401k in the US and the requirements in India.

Taxation on Selling 401k

• Discussion about whether the difference in tax rates between US and India for selling 401k would require paying the difference to India.
• Question raised if India would consider the 10% penalty as tax, or if additional tax would be required.

Converting Demat Account

• Member inquires if both NRO PINS and NRE PINS accounts are needed to convert from resident to non-resident.

Legal Plan for Trust and Will

• Discussion on the costs of creating trust and will with or without a legal plan.
• Member mentions that having a legal plan from employer covers the costs up to around $300.
• Member states that without a legal plan, costs can range from $2-3/4k depending on the lawyer.

Tue, 15 Oct 2024

Managing work calls with family time

Members discussed the challenges of managing evening/nighttime work calls with family and kids.

They shared their experiences and strategies for negotiating with their teams. Some found success in setting specific work hours, while others observed that US teams tend to rely heavily on calls.

Childcare was also mentioned as a difficulty. Overall, members were able to find solutions and offered support to each other.

Managing work calls with family time

• Members shared their strategies for negotiating with teams to set specific work hours.
• Some observed that US teams rely heavily on calls, but found ways to optimize and reduce their frequency.
• Childcare was mentioned as a challenge, with members expressing their desire to spend quality time with their children in the evenings.

Moving back to India with children in higher grades

• Members asked about experiences of moving back to India with children in 8th grade or higher and choosing a school board.
• No specific conclusions were reached, but members were seeking information and advice from others in similar situations.

Reliable courier service for sending gifts to the US

• Members discussed options for reliable courier services to send small-sized Diwali gift boxes to the US.
• DTDC and Garuda Vega were suggested as possible options.
• Members expressed gratitude for the suggestions and planned to explore them further.

Managing investments and comparing investment platforms

• Members discussed consolidating investments and managing Vanguard and Schwab accounts from India.
• The question of accessing Robinhood or E-Trade from India was raised.
• Advantages of Fidelity over Vanguard were also explored.

Wed, 16 Oct 2024

Discussion on SSA benefits and Cambridge syllabus

In the conversation, the members discussed the availability of SSA benefits after the age of 67 if they settle in India. They also talked about whether the Cambridge board syllabus is aligned with IIT exams.

One member shared their positive experience with the Cambridge syllabus and mentioned that it focuses on understanding the topic rather than memorization.

Another member mentioned that if students have OCI, they may need to pay college fees under the NRI quota in India, but for the same price, they can get better colleges abroad.

They also discussed the subjects available in the Cambridge board and the flexibility in subject selection.

SSA benefits and settling in India

• Members discussed the availability of SSA benefits after the age of 67 if they settle in India.

Cambridge syllabus and IIT exams

• One member mentioned that the Cambridge syllabus has a different approach compared to CBSE, with focus on understanding the topic.
• There was no clear conclusion on whether Cambridge students perform better in competitive exams like IIT.
• A general consensus was mentioned that CBSE students are believed to do better in competitive exams.

Tax implications of leaving US stocks

• Members discussed the future tax implications of leaving some stocks investments in the US after returning to India.
• Dividend income and short term/long term taxes would also need to be paid in India.

Transfer of funds from NRO to US bank account

• One member requested a contact of a CA who can explain the tax implications while transferring funds from NRO account to a US bank account.
• A contact named CA Shriram, email [email protected], was provided by another member as a reference.

Comparison of syllabus and performance in competitive exams

• A general discussion was held on the perceived performance of students in competitive exams based on different syllabus and board structures such as CBSE, ICSE, IB, and Cambridge.
• It was discussed that generally, CBSE students are believed to do better in competitive exams.
• However, it was also mentioned that every student is different and some students from other boards like ICSE or Cambridge can perform well in competitive exams.

Thu, 17 Oct 2024

Chase bank OTP codes and recommendations for savings account in US

Members discussed OTP codes from Chase bank and recommendations for a savings account in the US that can be operated from India. They also shared links related to IB recognition in India and 529 plans.

OTP codes from Chase bank

• Members discussed if changing OTP code receiving settings from SMS to Email would still require them to care about OTP codes on SMS.

Recommendations for savings account in the US

• Members shared recommendations for savings accounts that can be kept and operated from India.
• Vio bank was mentioned as a potential option.

IB recognition in India

• A member shared a link about IB recognition by all colleges in India.
• Link shared: [https://ibo.org/globalassets/new-structure/recognition/pdfs/faqs-about-the-ib-in-india.pdf](https://ibo.org/globalassets/new-structure/recognition/pdfs/faqs-about-the-ib-in-india.pdf)

529 plans for kids’ education

• A member asked about the usage of 529 plans for kids’ education.
• Another member explained that 529 plans can be used to pay for qualified expenses at eligible universities and shared a link to a list of eligible universities maintained by the Department of Education.
• It was mentioned that there are currently no universities listed in India that are eligible for 529 plans, resulting in a 10% penalty for fund withdrawals. A new rule allowing a $35k lifetime transfer from 529 to Roth IRA was also mentioned.
• Links shared: [https://districtcapitalmanagement.com/529-study-abroad/](https://districtcapitalmanagement.com/529-study-abroad/) and [https://www.fidelity.com/learning-center/personal-finance/529-rollover-to-roth](https://www.fidelity.com/learning-center/personal-finance/529-rollover-to-roth)

Fri, 18 Oct 2024

Crypto accounts, Investments, Quality of Life

The conversation in the BackToIndia community covered several topics including crypto accounts, investments, and quality of life.

Members discussed their experience with crypto accounts, such as Coinbase and Binance India, and mentioned tax implications when moving their assets.

There was also a discussion about investments in the USA and the process of changing addresses to Indian addresses.

The conversation then shifted to the topic of quality of life, with members sharing their perspectives on what it means to them and how it has improved since moving back to India.

There was a brief mention of education costs both in the USA and India.

Crypto accounts

• Members discussed their experience with different crypto accounts, including Coinbase and Binance India.
• There was a mention of tax implications when moving crypto assets to a new account.
• Links were shared regarding the best crypto accounts available in India.

Investments in the USA

• Members asked questions about how to proceed with their investments in the USA after moving to India.
• There was a mention of potential double taxation and changing addresses to Indian addresses.
• RSUs and phone number options were also briefly discussed.

Quality of Life

• Members shared their own perspectives on quality of life and discussed factors that have improved since moving back to India.
• Topics mentioned included more time for sports, increased socialization, spending time with family, and less screen time for kids.
• The importance of perspective in defining quality of life was emphasized.

Education Costs

• There was a brief mention of education costs in both the USA and India.
• Members discussed the expenses associated with pursuing higher education in the USA, such as MS degrees.
• The increasing cost of education in India, particularly for medical colleges, was mentioned.

Sat, 19 Oct 2024

Relocating to Bangalore: School Recommendations and Hidden Expenses of Tello

Members discussed relocating to Bangalore in the middle of the school year and asked for school recommendations. They also shared their experience and hidden expenses of using Tello.

One member expressed concern about post-retirement loneliness. Another member mentioned food as a topic of discussion. Lastly, a member asked for suggestions on gated communities in North Bangalore.

There was a query about international schools in Navi Mumbai.

School Recommendations for Relocation to Bangalore

• Members discussed the challenges of relocating children during the school year.
• They asked for recommendations for schools in Bangalore.
• One member mentioned that his daughter is in 3rd grade.

Hidden Expenses of Tello Network

• One member shared their experience of moving to Tello.
• They mentioned that Tello makes money through additional charges for roaming.
• To use roaming, users need to have a minimum balance of $20, which expires in 90 days.

Concerns about Post-Retirement Loneliness

• A member expressed concern about Indians in the US feeling lonely after retirement.
• They discussed not wanting to feel the same way upon relocating.
• This topic was mentioned in relation to the decision of moving back to India.

Food as a Point of Discussion

• There was a brief mention of food as a topic of discussion.

Suggestions for Gated Community in North Bangalore

• A member asked for suggestions on gated communities in the Yelahanka area of North Bangalore.

International Schools in Navi Mumbai

• Someone in the group asked if anyone had moved to the Navi Mumbai area.
• They specifically wanted to know about the quality of international schools and asked for recommendations.

Sun, 20 Oct 2024

Purchasing Property in India as an NRI

Members discussed the process of purchasing property in India as an NRI, including the requirement to pay TDS on the payment and the need to deduct the TDS amount from the payment to the seller.

They shared a link to the official website for more information.

Indian Values and Challenges of Moving Back

• Members discussed the challenges of moving back to India and shared their experiences and perspective on Indian values. One member mentioned the importance of moving back only if there is a strong motivation, such as taking care of aged parents. They also mentioned the concept of kids celebrating festivals together and how it is less common in India compared to the US.
• A member shared some light-hearted observations of Indian values, such as the buffet spread arrangement during office lunch and the behavior of people during deplaning a domestic flight.
• The importance of cultural values, access to grandparents, and various rituals in India were also discussed by members.

Ladies Group and Cultural Values

• A member mentioned the existence of a ladies group and expressed the wish to have known about it sooner.
• Members discussed the perspective on Indian values and the access to cultural values outside of India, such as Raam Leela and Durga Puja. They also highlighted the importance of access to grandparents and invaluable time with them, as well as various temples and rituals.

Buying Appliances: Brick and Mortar vs Online

• Members shared their opinions on buying major appliances, discussing whether it is better to purchase from a brick and mortar store like Croma or to order online from Croma/Amazon. They mentioned the desire for the least hassle option when things go wrong.
• The experience of ordering from Vijay Sales was also mentioned.

Phone Number Porting to Google Fi

• A member raised a question about porting their number to Google Fi and the requirement to come back to the US every 90 days to keep the number active. They sought clarification from others.

Mon, 21 Oct 2024

Discussion on Property Purchase in India

Members of the group discussed the process of buying property remotely in India using a power of attorney (POA). They shared experiences, recommendations, and information about the requirements for purchasing and selling property as an NRI.

Remote Property Purchase using POA

• Members discussed the possibility of purchasing property in India without visiting by using a power of attorney.
• They mentioned that a buyer can send their attorney to finalize the purchase.
• The process of buying property remotely through a POA was also highlighted as a viable option.

Requirements and Challenges for NRIs

• Members mentioned that while purchasing property through POA, PAN (Permanent Account Number) is required.
• Selling a flat as an NRI was identified as more challenging, with the need to visit India for the transaction and obtain a TAN (Tax Deduction and Collection Account Number) number.
• Aadhar card is normally required, but there may be workarounds for non-citizens.

Recommendations and Resources

• Members inquired about trustworthy real estate agents in Pune and Hyderabad.
• One member recommended Mr. Prashant as a reliable real estate agent.
• Another member sought recommendations for finding a good real estate lawyer in Hyderabad.

Preserving Indian Culture for the Next Generation

• Members expressed the desire to make India great again and preserve its culture.
• They discussed how Western influences are becoming the norm in desi lifestyles and expressed the need for the next generation to be aware of Indian folklore and puranas.
• There was a shared sentiment about the importance of celebrating Indian culture and educating the younger generation about it.

Tue, 22 Oct 2024

Nurse at home help, investing/trading in Robinhood, health insurance for US citizen minors

Members of the BackToIndia community discussed topics related to nurse at home help, investing/trading on the Robinhood app, and health insurance for US citizen minors.

Nurse at home help

• A member asked if anyone had a good contact for nurse at home help in and near Ghaziabad, India.

Investing/trading on Robinhood

• A member inquired if anyone was able to invest/trade on the Robinhood app after moving back to India.
• No member reported being able to invest/trade on Robinhood after moving back to India.

Health insurance for US citizen minors

• A member shared their interest in HDFC ergo for health insurance for themselves and their family, particularly for US citizen minors.
• No member shared specific issues related to getting coverage or having claims processed for US citizen minors in India.
• There were no conclusions or recommendations shared by any member.

Wed, 23 Oct 2024

Prefer Govt owned insurance, returning time, tax considerations

Members discussed their preferences for insurance companies in India, the ideal time to return back, and tax considerations.

Preference for Govt owned insurance

• Members expressed their trust in Govt owned insurance companies like New India due to their less likelihood of declining claims.
• One member mentioned that having an OCI card and PAN allows buying and getting treatment through Indian insurance without issues.

Ideal time to return back

• One member asked about the reason why after February is considered the ideal time to return back, but no specific answer was provided.
• Another member suggested checking the official rules on the IRS website for more information.
• A shared link provided some information about the ideal time to return back.

Tax considerations for returning

• One member mentioned that leaving before January 31st of the next year may lead to being treated as a non-resident alien.
• Leaving after January 31st increases the chances of passing the substantial test for residency.
• A member mentioned their goal of returning next year (2025) and their need to calculate the length of their RNOR status.

Preferences for investment and accounts

• A member shared their plan of keeping their brokerage account active after moving back to the US.
• Another member mentioned keeping 80% of their money in the US and moving 20% to India, investing in retirement accounts.
• The latter member mentioned the ability to withdraw from the retirement account once their spouse turns 59.5 years in a couple of years.

Thu, 24 Oct 2024

Bank transfer process and job opportunities

The conversation in the group mainly revolved around two key topics: the process of bank transfer when moving to India and finding job opportunities after returning. Members shared their experiences, preferences, and suggestions on these topics.

Bank transfer process

• Some members discussed whether it is advisable to transfer funds from a previous PF account to a new PF account opened by the employer or withdraw the funds, considering taxation implications.
• The group did not reach a definitive conclusion on the better option.

Finding job opportunities

• Members who recently returned to India shared their experiences and challenges of finding a job in the current IT job market.
• One member asked about the implications of an approved i140 after moving back to India, and other members clarified that the i140 is not revoked unless there is fraud. They also discussed the validity of the i140 and priority date if returning to the US.

Fri, 25 Oct 2024

Health insurance and commuting preference

Members discussed health insurance options and preferences for commuting to work.

Health insurance options

• Members shared their experiences with health insurance in their companies and outside
• One member mentioned having both company-sponsored and market-bought health insurance policies

Commuting preference: Bangalore or Hyderabad?

• Members compared the everyday commute in Bangalore and Hyderabad
• The discussion highlighted the issues with commute in Bangalore’s Sarjapur Road and concerns about improvement
• One member requested insights on the situation in Hyderabad, but no specific conclusion or preference was shared

Sat, 26 Oct 2024

Private Car Sale and NEET Requirements

The chat conversation in BackToIndia community discussed two main topics: showing the sale price lower than actual to reduce sales tax on DMV, and the requirements of NEET for NRI quota.

Private Car Sale and Sales Tax

• Members shared their experiences and opinions about showing the sale price lower to reduce sales tax on DMV.
• One member mentioned that the seller asked them to write it as 50% lower but they refused and dropped it by around 20%.
• It was discussed that the DMV may not consider the sale price when calculating the tax, and there might be predefined tax ranges based on the car year and market price.

NEET Requirements for NRI Quota

• There was a discussion about whether NEET is required for NRI quota in medical colleges in India.
• One member questioned the need for NEET in NRI quota, while another member clarified that NEET is required for medical admissions.
• The conversation also involved members exploring options for NEET and considering medical studies in India for their children.

Sun, 27 Oct 2024

Managing finances and relocations to India

The conversation in the BackToIndia group primarily focused on managing finances and relocations to India. Members discussed topics such as managing investments, bank accounts, and phone numbers after moving to India.

Managing Investments from India

• Members suggested using services that provide a US mailing address and route mail to India. They also emphasized considering capital gains and the ease of converting USD back into INR.
• Liquidating investments was also discussed as an option.
• Example: ‘You must take into account capital gains. In general, remember that getting USD back into India is easy, the other way is harder.’

Handling 401(k) Funds

• Once members leave their employer, they can place their 401(k) funds into a Rollover IRA. This process was considered straightforward.
• Example: ‘Once you leave your employer, you will get the option to place your 401k funds into a Rollover IRA. This is straightforward.’

Managing US Bank Accounts

• Whether to close US bank accounts or keep them active was discussed as a personal choice. It was suggested to keep a checking account active if using a US mailing address service.
• Example: ‘If you will keep the US mailing address service active, then keep a checking account active as well to remit funds as needed.’

Using Permanent US Number in India

• Members inquired about using a permanent US number after moving to India. No implications were mentioned, and it was suggested that the number could be coded as NRI and updated with a foreign address.
• Example: ‘No implication, they will just code it to NRI and update address to foreign address.’

NEET/Medicine Discussion for Parents

• A separate group was proposed for parents interested in discussing NEET/medicine options in India for their children. Members were asked to indicate their interest.
• Example: ‘I could create a separate group for interested parents who are planning to do NEET/medicine from India for their kids, if that helps for a focused discussion. Pls thumbs up, if interested.’

Mon, 28 Oct 2024

Interpretation of 182 Days Rule and Aadhaar Card Requirement

Members discussed the frustrating interpretation of the 182 days rule for OCI application.

They highlighted that the rule should not require 182 days since the last entry date. Some members shared their personal experiences and mentioned that the UIDAI officials themselves were unsure about the rule.

One member even shared that the district collector suggested applying as a resident instead of OCI. They expressed disappointment with the lack of clarity and the need for loopholes to bypass the system.

Aadhaar Card Usage

• Members discussed using Aadhaar cards for various activities such as school enrollment and domestic flight travel.
• Some members mentioned that their school did not ask for Aadhaar cards, while others shared that it was required.
• Members inquired about other valid IDs for flight travel and discussed the importance of updating the rules on the website.

Customs Regulations for Jewels

• A member asked for advice on sending jewels with their in-laws while they traveled back to the US.
• Another member advised including receipts with the jewels as customs are checking for them.
• Some members shared their personal experiences with customs, mentioning that proofs of purchase and photographs of old jewelry helped in the process.

Sending Parcels from US to India

• A member sought recommendations for sending parcels weighing 15-25 lbs from the US to India, considering both cost and safety.

Resignation Planning and Notice Period

• Members discussed the timing of resignation and vacating rented apartments before leaving for India.
• There was a mention of potential scrutiny during flights from the Middle East, but no further details were given.

Tue, 29 Oct 2024

Discussion on Job Search Platforms

The conversation revolved around job search platforms and financial planning after returning to India.

Job search platforms

• Members discussed the best platforms for finding jobs in India, such as Naukri.

Financial planning upon return

• A member asked if others maxed out their 401k in the US before returning to India.
• One member shared their plan to optimize future returns and avoid double taxation.

Sat, 02 Nov 2024

Shipping TV to India: Customs, Voltage, and Size

Members discussed the possibility of shipping a TV to India, considering customs, voltage difference, and availability of bigger sizes.

Shipping 65-inch TV to India

• Members debated whether it is worth shipping a 65-inch TV to India, considering customs and voltage difference.
• One member mentioned paying less than $400 for the TV when bought.
• Another member stated that if the TV size is bigger than 65 inches and has compatible voltage (110-230V), it is worth shipping, especially from popular brands like Sony, Samsung, LG.

Buying a new TV in India

• Members discussed whether it is recommended to buy a better compatible/bigger TV during upcoming Black Friday sales or to not bother and buy a new one in India.
• One member mentioned that 65+ inch TVs from popular brands are still relatively expensive in India.
• Another member stated that if there is a receipt for the TV, old TVs won’t attract much custom duty.
• A suggestion was made to ship a 75 or 80 inch TV if shipping is already being considered, as the latest models are either not available in India or are expensive.

Sun, 03 Nov 2024

Discussion on Buying UST Projector instead of TV

Members discussed the possibility of buying a UST projector instead of a TV in India due to concerns with shipping and price.

UST Projector as an alternative to TV

• Members discussed the idea of buying a UST projector instead of a TV due to the hassles in shipping a large TV and the price in India.
• Some members expressed their opinions in favor of buying a UST projector as an alternative to a TV.
• One member shared a link to a high-quality UST projector available in India.

Concerns with shipping and price

• Members mentioned the hassles in shipping a large TV to India.
• They also discussed the high price of TVs in India compared to other countries.
• One member shared their personal experience of shipping a TV to India and the difficulties they faced.

Mon, 04 Nov 2024

VPN, Banking, Financial Advisor, Shipment Customs

Members discussed topics related to VPN services, banking options and rates, the need for a financial advisor knowledgeable in US taxation, and the process of sending passport and OCI copy for custom clearance.

VPN Services

• Members discussed Keepsolid VPN’s lifetime deals and the use of Wireguard option for secure encryption.
• They shared preferences of using open-source Wireguard clients instead of installing Keepsolid software.
• It was concluded that Keepsolid VPN would work for streaming purposes, unless the user has specific security concerns.

Banking Options and Rates

• Members shared their experiences with wire transfers and negotiating exchange rates with banks.
• There was a suggestion to negotiate bank commission, aiming for a rate around 5-7 paisa per dollar.
• It was also mentioned that some salary accounts offer rates closer to the Google rate minus 4 paisa.

Financial Advisor for US Taxation

• A member inquired about finding a financial advisor who is knowledgeable in US taxation.

Shipment Customs

• Members discussed the requirement to send passport and OCI copy to the shipment company for custom clearance.
• Opinions were divided on whether it is safe to send documents by post.

Tue, 05 Nov 2024

US Tourist Visa Rejection and Financial Queries

The conversation in the BackToIndia group discussed various topics such as US tourist visa rejections, encashment of US cheques outside the US, and term life insurance options when moving from the US to India.

US Tourist Visa Rejection

• Members shared their experiences of being rejected for a US tourist visa, even though they only wanted to visit their in-laws and didn’t have intentions to immigrate.
• One member’s cousin waited for immigration approval before traveling to the US with his US citizen spouse.
• Members recommended consulting an immigration lawyer for the best course of action.

Encashing US Cheques outside the US

• Members discussed difficulties in encashing US government cheques with both their names abroad.
• One member planned to try depositing the cheque in a joint account in India.
• The issue was potentially linked to concerns about emigrating to the US.

Electric Standing Desks for Moving Back

• Members discussed the availability and worthiness of buying electric standing desks in the US and shipping them back to India.
• Some members found 220V standing desks easily in India at a reasonable price.
• Others shared positive experiences of shipping the desks without issues.

OCI Holders and Trains in India

• Members shared their experiences regarding the need to carry a foreign passport while traveling on trains in India as an OCI holder.
• Having PAN or Aadhar cards seemed sufficient for identification.
• Members confirmed that an OCI or foreign passport may not be necessary.

Term Life Insurance

• Members sought advice on term life insurance options when moving from the US to India.
• Questions arose regarding whether to continue paying premiums from a US bank account or if other options were available.
• One member had a 30-year Prudential term life insurance plan.

Wed, 06 Nov 2024

Issues with Universal Relocations insurance claims

Members of the BackToIndia community discussed their experiences with insurance claims from Universal Relocations and other relocation companies.

Broken items and denied claims

• Members shared their disappointment with Universal Relocations denying insurance claims for broken items.
• Some members mentioned different clauses and deductibles being cited as reasons for denial.
• One member expressed frustration and mentioned giving up on the claim process.

Operating brokerage accounts from India

• A member asked if VPN is needed to operate brokerage accounts like Vanguard from India.
• Another member confirmed that VPN is not required and these accounts can be operated from India.
• No specific preferences or suggestions were shared regarding this topic.

The impact of Google reviews

• Members discussed the positive impact of Google reviews.
• One member mentioned having their issues resolved with different vendors and businesses through Google reviews.
• An example of a positive experience with Joy Alukas in the USA was shared.

Air freight vs. sea freight

• A member recommended using air freight due to the faster delivery time.
• They mentioned that air freight is about 50% more expensive compared to sea freight.
• No specific preferences or suggestions were shared regarding this topic.

Quality of shipping companies

• A member suggested that the quality of shipping companies used by relocation companies may vary.
• No specific preferences or suggestions were shared regarding this topic.

Thu, 07 Nov 2024

Recommendations for Indian stock market

The conversation in the BackToIndia community discussed recommendations for understanding the Indian stock market and investing options for mutual funds and stock sectors.

Recommendations for learning about the Indian stock market

• Members shared various suggestions, including podcasts, YouTube videos, and websites, to learn about the Indian stock market.
• One member recommended the YouTube channel ‘Moneycontrol’ for Indian stock market insights.
• Another member suggested visiting the website ‘Investing.com’ for information on Indian stocks and mutual funds.

Preferences for investing in the Indian market

• Members expressed their desire to invest in the Indian market after returning from the US.
• One member mentioned having good experience investing in the US stock market, but now wants to explore opportunities in India as well.
• There was no specific conclusion or preference discussed regarding which stock sectors or mutual funds to invest in initially.

Positive experiences with Universal for shipping

• Members shared positive experiences with Universal for shipping their belongings.
• One member mentioned shipping a 65-inch TV with Universal without any damages.
• Another member shared that they shipped a full container with Universal, including electronics, crockery, and glass showcases, without any cracks or damages.

Fri, 08 Nov 2024

Phone plans, moving back, tax-free items

The conversation in the BackToIndia group covered topics related to phone plans, moving back to India, and tax-free items.

Phone plans in India

• Members discussed options for using US phone numbers in India using WiFi and affordable plans.
• GoogleFi was suggested as an option, costing $20 per month.
• Some members mentioned using Google Voice for OTPs, but not all institutions allow this.
• Chase and BOA were mentioned as banks that work fine with Google Voice.

Moving back from Canada

• Members asked about keeping Canadian numbers and suggestions for good plans or alternatives to Google Phone.
• Some apps don’t allow OTPs to be sent to Google Phone.
• Testing all apps while still in the US was recommended before transferring the number to Google Voice.

Tax-free items for India

• Questions were raised about what items can be brought to India tax-free.
• Kitchen appliances, TVs, monitors, electric tables, and e-bikes were specifically mentioned.
• The conversation did not provide a conclusive answer on whether these items are taxed or not.

Sat, 09 Nov 2024

Moving Back to India and Taxation

The members of the group discussed various topics related to moving back to India and taxation. They talked about applying for OCI, using thumb impressions for updating OCI, Power of Attorney for selling a house, and customs duty on shipping TVs to India from the US. They also discussed the RNOR status and the need for a CA with knowledge of US and Indian taxation.

Applying for OCI

• They mentioned that one can apply for OCI after resigning from the job and changing the immigration status.
• They discussed the possibility of using thumb impressions for a 9-year-old child to update OCI, and whether a signature is required.
• No conclusion or preference was shared on this topic.

Power of Attorney for Selling a House

• A member shared their situation of jointly owning a house in the UK and planning to sell it, and asked if anyone else has been through a similar process.
• There was a question about the validity of a Power of Attorney (POA) registered in India globally.
• No conclusion or preference was shared on this topic.

Customs Duty on Shipping TVs to India

• A member asked about the customs duty (around 38%) charged on the actual invoice if shipping TVs from the US to India, and whether having a receipt is sufficient.
• There was a question about the possibility of shipping more than one new TV.
• No conclusion or preference was shared on this topic.

RNOR Status and Taxation

• A member inquired if anyone in the group has moved back from the US to India under RNOR status and wanted to fall under RNOR themselves.
• They expressed the need to consult a CA who knows US and Indian taxation well to time their move.
• No conclusion or preference was shared on this topic.

Sun, 10 Nov 2024

Crypto holdings and selling properties

In the conversation, the members discussed topics related to crypto holdings and selling properties before moving back to India.

Crypto holdings in Robinhood or Coinbase

• Members talked about whether they sold their crypto holdings before coming to India or planning to hold.
• They also mentioned the importance of holding for tax perspective in India.
• No specific conclusion or preferences were shared by the members.

Selling properties and realtor commission

• Members discussed the percentage of commission given to realtors for selling properties in the US before moving back to India.
• One member mentioned giving a commission of 5-6% to the realtor.
• No further preferences or conclusions were shared by the members.

Mon, 11 Nov 2024

Selling Property and Transferring H-1B Visa

Members discussed selling property and transferring H-1B visas from India to the US.

Transferring H-1B Visa

• Members shared experiences of successfully transferring their H-1B visas to new companies after spending time in India.
• They mentioned the need to find a willing employer and file an H-1B petition, followed by a visa interview.
• The biggest challenge discussed was getting a visa interview date without long delays.

Selling Property

• Members discussed the challenges of selling property in a slow market, mentioning paying fees such as seller, buyer, and upgrade fees, as well as miscellaneous costs and pending property taxes.
• They shared different options for selling, including finding a buyer themselves through ads or using realtors and websites like Redfin and Open Door.
• One member suggested considering seller financing, becoming the bank and creating a second mortgage, while another mentioned trying auction.com for a wider buyer pool.

Transferring Funds from US to India

• A member asked for advice on transferring a major amount of US funds to India after losing their NRI status.
• Other members advised consulting a CPA and ensuring that the realtor, title company, and buyer are on the same page.
• They also mentioned websites like Redfin and Open Door as options for selling property and discussed the benefits and drawbacks of each.

Tue, 12 Nov 2024

Affordable shipping companies, box size, and employment-based adjustment of status

The chat conversation in the BackToIndia community discussed topics related to affordable shipping companies, box size, and the impact of abandoning an employment-based adjustment of status application.

Affordable shipping companies

• Members discussed the affordable shipping companies they have used, such as SFL shipping.
• Shared information about the charges – SFL shipping charged around 80 bucks per box of 50 pounds weight.
• Discussed their experience with SFL shipping – promised delivery in 2 weeks but took 4 weeks, the boxes arrived in good shape, and SFL shipping was reasonable to deal with.

Box size for shipping

• Members inquired about the usual box size allowed by shipping companies.
• No specific information or conclusion was shared in the conversation regarding the box size.

Impact of abandoning employment-based adjustment of status

• A member expressed their plan to permanently relocate to India and asked if there would be any negative impact on future visa applications for them or their dependent kid.
• Members discussed the process of withdrawing the adjustment of status application.
• It was suggested to submit a letter stating the intent to withdraw, print, sign, and mail it to the processing center with a received receipt as proof.

Wed, 13 Nov 2024

Tax consulting, TV warranty, health insurance, trading in US market, repatriation of money

Members of the group discussed various topics including tax planning with a consultant, warranty on TVs purchased from Costco and shipped to India, health insurance plans in India, trading in the US market while in India, selling crypto for gains as a Resident but not Ordinary Resident (RNOR), and repatriation of money for resetting the cost basis.

Tax consulting

• A member inquired about the charges for tax consultation in India for returning NRIs
• Another member suggested checking with a consultant who deals in both USA and India taxes and may charge around $100 for a consultation
• No conclusion or preference shared by any member

TV warranty

• A member asked about the validity of the warranty provided by Costco/manufacturer for TVs purchased and shipped to India
• No conclusion or preference shared by any member

Health insurance plans

• A member sought advice on health insurance plans in India for a family of 4
• No conclusion or preference shared by any member

Trading in US market while in India

• A member inquired about the possibility of continuing to trade in the US market after being in India for 1 or 2 years, and how to file returns in both countries
• No conclusion or preference shared by any member

Repatriation of money for resetting cost basis

• An RNOR member asked where they can find more information about repatriating money for resetting the cost basis
• No conclusion or preference shared by any member

Thu, 14 Nov 2024

Relocation to India and Financial Planning

The group discussed various topics related to relocating to India from the USA, creating a trust, resetting cost basis of stocks, and tax filing for both India and the US. They also shared information about legal and tax services, as well as options for HSA accounts.

Relocating to India from the USA

• Members discussed the process of relocating to India from the USA using N-470 from the employer to preserve GC.
• They were looking for someone who had successfully executed the relocation to get some inputs and acknowledgement.
• Specific questions were raised regarding the timing of the move.

Creating a trust

• A member asked for help and contacts to create a trust.
• Another member shared a contact, Michael M. Durkin, an attorney, and provided his contact details.
• Personal experiences of using the attorney’s services were also discussed.

Resetting cost basis of stocks

• A member asked if anyone had successfully reset their cost basis of stocks when moving back to India.
• They expressed the need for someone to actually help them file correctly and stand by them in case of an audit or scrutiny.
• Options for consulting a tax specialist were shared.

Tax filing and WILL

• Guidance was sought for tax filing in both India and the US for the tax year 2024.
• Questions were raised regarding the process of creating a WILL, especially when parents are Indian citizens and minor children are US citizens.
• Contact details of an attorney specializing in tax services were shared.

Options for HSA accounts

• The group discussed the options for HSA accounts when relocating to India.
• Issues regarding claiming through US HSA accounts in India and the acceptance of HSA debit cards were mentioned.
• The tax and penalty implications of cashing out HSA accounts were also highlighted.

Fri, 15 Nov 2024

Moving back to India with a toddler

Members of the BackToIndia community discussed essential things to carry from the US for their 21-month-old daughter and the availability of mail forwarding services to India. They also shared experiences with shipping personal items.

Essential things to carry for the child

• Members discussed what essential items would help their child transition to the climate/environment in India. No specific conclusion or preferences were shared.

Mail forwarding services to India

• Members questioned if USPS forwards mails to an Indian address.
• Another member suggested trying an online form on the USPS site.
• It was concluded that USPS does not forward mails to India, but there are other services available, with sbimailservice.com being mentioned as an example.

Shipping personal items

• A member asked if presence is required for customs clearance when shipping personal items.
• SFL mentioned that presence is not necessary and they will handle everything.
• Universal Relocation did not provide this information.
• No further experiences or preferences were shared by other members.

Sat, 16 Nov 2024

Passport and Customs Clearance Discussion

The members discussed passport requirements and the possibility of going in person for customs clearance. They also shared information about airfreight costs for boxes.

Passport Requirements

• The members questioned whether they could go in person for customs clearance instead of sending their passports. It was suggested that no presence was required and that there was no need to send the passport.
• One member mentioned that it would have been helpful if the requirement of not needing to send the passport was mentioned in the initial quote.

Relocating from the USA and SSN

• A member asked if anyone who relocated from the USA had locked their SSN (from work visa) or the SSN of their USA-born kids.
• There was no further discussion or conclusion regarding this topic.

Airfreight Costs

• One member mentioned that in 2019, they paid $100 for airfreight for a 2×2, 55 LB box, and now it is even cheaper.
• Another member expressed gratitude for the information and shared that their boxes are heavy-duty and from Lowes. They stated that even if the cost is $120 per box, it would still make sense to them.
• The member mentioned that the contents of their boxes are not expensive, except for precious photos and albums. They thanked the person who provided the airfreight cost information and expressed the intention to give them a call.

Mon, 18 Nov 2024

School recommendations, bank account, and baggage options

Members discussed various topics including school recommendations in Bangalore, opening a bank account in India as a US citizen, and options for bringing crockery to India without damage.

School Recommendations in Bangalore

• A member asked for recommendations for good CBSE schools in HSR Layout, Bangalore.
• No specific recommendations were given in the conversation.
• Other members may have shared recommendations privately or outside of the current conversation.

Opening Bank Account in India as a US Citizen

• A member asked if a Social Security Number (SSN) is required to open a bank account in India as a US citizen.
• Other members shared their experiences with opening bank accounts and mentioned that providing SSN may be required for KYC (Know Your Customer) purposes.
• One member mentioned that ICICI bank may be aware of the requirement for FATCA (Foreign Account Tax Compliance Act) if the account holder has foreign bank accounts or assets.

Options for Bringing Crockery to India

• A member asked for ideas on how to bring crockery to India without any damage.
• One suggestion was to book a container for shipping as it would protect the crockery from damage.
• No further discussion or suggestions were shared in the conversation.

Tue, 19 Nov 2024

Financial Advisor, ULIP, Travel Agents

Members of the BackToIndia community discussed topics related to finding a financial advisor, ULIP investments, and reliable travel agents.

Financial Advisor for NRIs returning to India

• Members discussed the need for a financial advisor with a good understanding of the US and India market, specifically for NRIs returning to India.
• One member cautioned against blindly trusting anyone who claims to understand the market.
• No specific recommendations or preferences were shared for financial advisors.

Thoughts on ICICI Prudential Signature Plan (ULIP)

• Members shared their thoughts on the ICICI Prudential Signature Plan (ULIP), with most advising against investing in ULIPs.
• Some members suggested buying the bluechip mutual fund and life insurance separately instead of opting for a ULIP.
• Reasons cited against ULIPs included low returns compared to mutual funds, illiquidity of funds, high commissions, and inferior insurance terms.

Recommendations for Travel Agents

• Members asked for recommendations for reliable travel agents in Delhi and Mumbai.
• One member shared positive feedback about a travel agency’s services, specifically for a tour that included Delhi, Mathura, Agra, and Jaipur.
• Another member mentioned that term insurance rates are significantly cheaper in the US compared to India.

Wed, 20 Nov 2024

Options for Estate Tax in India

Members discussed various options to handle estate taxes in India, including joint accounts, living trust accounts, wills, and life insurance.

Joint Accounts as Backup

• Members discussed the option of keeping joint accounts as a backup to mitigate estate taxes.
• IBKR offers joint accounts for Indian residents, which members found as a viable solution.

Living Trust Accounts

• Members discussed the possibility of executing living trust accounts from India.
• One member mentioned that a living trust is just a document listing all accounts/assets and who has authorization to it.
• It was suggested that a trust fund can be created to manage the estate from India.

Will as an Option

• One member inquired if a US-based will can be created from India.
• No specific conclusion was reached regarding creating a will from India.

Life Insurance to Offset Taxes

• Members discussed the option of getting life insurance to offset the estate taxes.
• Although life insurance won’t match a growing corpus, it was considered a backup option.

Documentation and Authorization

• Members asked for links or documentation related to estate tax in India.
• There was a mention of including siblings and friends in the estate documentation.
• One member offered to share details about creating a trust once they do it.

Thu, 21 Nov 2024

Visa Interview Experience and Recommendations

Members discussed their experiences and recommendations about the b1/b2 visa interview process.

Visa Interview Process

• Members shared their personal experiences with the b1/b2 visa interview.
• Some members recommended preparing all the required documents in advance.
• One member shared a helpful link to a blog post that provides tips for a successful visa interview.

Cybersecurity Company Recommendations

• One member was seeking recommendations for a cybersecurity company or private team experienced in managing and securing government servers and applications.
• Several members recommended companies and teams that specialize in cybersecurity and have experience in handling government projects.
• Some members shared links to websites and LinkedIn profiles of cybersecurity companies and professionals.

Taking Farm Equipments from US to India

• One member asked if it is possible to take farm equipments from the US to India.
• Some members shared their experiences of taking agricultural equipment from the US to India.
• One member suggested checking the import regulations and requirements of India before taking farm equipments.

Moving Crypto to Cold Wallet

• One member mentioned that Robinhood doesn’t allow non-resident accounts and asked if it’s possible to move crypto to a cold wallet instead of selling.
• Some members shared their knowledge of using cold wallets for storing and securing crypto.
• One member recommended researching different cold wallet options and their security features.

Fri, 22 Nov 2024

Accountants, Shipping Devices, Taxes, TVs, and Transformers

In the conversation among the members of the BackToIndia community, multiple topics were discussed relating to accountants, shipping devices, taxes, TVs, and transformers.

Accountants for US Taxes

• Members discussed recommendations for a good and trusted accountant in India who can do US taxes.
• One member mentioned consulting a local CA who is checking into the documents used to assume foreign income.
• Another member suggested having separate CPAs for Indian and US taxes.

Shipping Devices with Batteries

• Members discussed the possibility of shipping or checking in devices with batteries, such as robot vacuums and Dyson vacuums.
• It was noted that it is common practice to carry batteries in hand luggage and vacuum in check-in due to the possibility of heat under pressure.
• One member shared that they had carried a Dyson vacuum in their check-in bag by removing the batteries and carrying them separately.

Reporting US Income in India for Taxes

• Members discussed the process of reporting US income in India for taxes.
• Different opinions were shared regarding whether only the taxable final income as per US tax return form 1040 should be considered as US income in India.
• One member explained that in the US, deductions for losses in LLC and other business matters are allowed, while Indian taxation does not allow mixing personal and business income.

Bringing Oversized TVs to India

• One member inquired about the best option to bring a 75-inch TV to India and if airlines allow it as oversized luggage.
• No conclusive answer was provided in the conversation.
• It was mentioned that HDFC provides transfer services, but for larger amounts of money.

Transformers for Electrical Appliances

• One member sought recommendations for transformers for electrical appliances, mentioning the need for a transformer to be used with a pumping machine.
• A specific transformer from Amazon that supports both step-up and step-down was recommended.
• Advice was given to ensure using the correct sockets when connecting devices and to consider the weight of the transformer while planning for travel.

Sat, 23 Nov 2024

Remittances, Financial Advisors, Credit Cards, Packing, Bank Transfers

Members discussed various topics including remittances, financial advisors, credit cards during a move, packing, and bank transfers.

Remittances

• Members compared remittance rates of different portals like Xoom, XE, and Remitly.
• Some members discussed the benefit of reaching out to banks directly for remittance.
• It was mentioned that some banks require a minimum amount for remittance.

Financial Advisors

• A member asked for recommendations on financial advisors for advice on 401k strategies.
• One advisor mentioned in the forum declined to provide detailed advice on 401k strategies.
• It was suggested that a CA could help with tax-related queries but not long-term strategies.

Credit Cards during a Move

• Members discussed what to do with credit cards when moving.
• Some members received emails from banks threatening to close their cards due to inactivity.
• One member asked if there was a way to keep credit cards active without spending.

Final Packing and House Clearance

• Members shared their experiences of emptying their houses in the last few days before moving.
• One member mentioned shipping a few boxes via container, so they had to pack in advance.
• Some members disposed of the remaining items or took them in checked luggage.

Bank Transfers and Tax Issues

• Members discussed potential bank and income tax issues when transferring USD from a US account to an Indian local account.
• It was advised to use banks with NRI accounts for smoother transactions.
• One member shared a personal experience of their money being wrongly reported as agricultural income.

Sun, 24 Nov 2024

OTP for HDFC Ergo Signup

Members discussed HDFC Ergo asking for an Indian number to send OTP for signup. One member suggested using a relative’s number. Another member shared their experience of using an app to forward SMS to their personal email.

Transferring Bulk Money to India

• Members discussed the best way to transfer bulk money to India with a low conversion rate.
• One member mentioned that some banks are only 2-3 rupees away from Google rates.
• Another member suggested that Indian Overseas Bank (IOB) would be the closest in terms of rates.

Bank Card Rates vs Google Rates

• Members discussed the difference between bank card rates and Google rates for currency conversion.
• One member mentioned that there is only a few paise difference between bank card rates and Google rates.

Mon, 25 Nov 2024

Immigration and Kids Entertainment Tips

Members discussed immigration and kids entertainment tips.

Immigration Process

• Members talked about the process of filing i485.
• They mentioned that being on a valid h1b in the US is required for filing i485.
• One member shared that the exact process for consular processing is unclear, but it involves an interview at the consulate after completing all the perm related paperwork.

Finding Immigration Legal Counsel in India

• A member asked for recommendations on immigration legal counsel in India, specifically in Chennai.
• No specific recommendations were mentioned in the conversation.

Entertaining Kids on Long Car Rides

• A member sought advice on keeping kids engaged during long car rides without screens.
• It was mentioned that playing games like naming cities or playing ‘name place animal thing’ can be helpful.
• No specific conclusions or preferences were shared by the members.

Tue, 26 Nov 2024

529 plans for education expenses

Members discussed the use of 529 plans for education expenses in India or other countries. They mentioned that as long as the college outside the US is approved by the US Department of Education, funds can be used. However, they noted that as Indian residents, the tax-free treatment of 529 earnings would not be recognized in India, resulting in a potential 30% tax. Some members suggested investing the money in a S&P 500 fund to benefit from favorable LTCG tax treatment upon withdrawal.

Taxation on retirement funds

• Members had a discussion on the taxation of retirement funds such as IRA and 401k. They concluded that distribution from these funds would be treated as ordinary income.
• They also mentioned that social security would be taxed similarly as ordinary income.
• There was a question raised about the double taxation treaty between India and the US, and if anyone in the group could provide more information on this topic.

Cost basis in India for 401k funds

• Members discussed the concept of cost basis for 401k funds and concluded that within a 401k, cost basis does not apply.
• They mentioned that when withdrawing from a 401k, individuals will be taxed on the total withdrawal amount, including the principal and earnings.
• There was a query about resetting the cost basis in 401k funds by pulling money out, paying tax and penalty, and then reinvesting. Members advised against this approach as it does not make financial sense.

Obtaining OCI for children

• Members discussed the process of obtaining OCI (Overseas Citizen of India) for children. Some members shared their experiences of getting OCI in the US, while others mentioned that it is also possible to get it in India.
• They advised not to postpone getting OCI and emphasized the convenience of having OCI in an R2I (Return to India) situation to avoid dependence on a tourist visa.
• There was a mention of the need to visit the FRRO office for OCI in India, and the potential need to travel or take kids for an interview if there is no FRRO office in the city.

Thu, 28 Nov 2024

CA for USA to India transfer and TV import tax

The conversation in the BackToIndia group mainly revolved around two key topics: finding a CA for USA to India transfer and discussing the import tax on TVs brought from the US. Members also discussed the possibility of retaining invested and unvested stocks after moving to India, handling stock investments in a fidelity account, updating address and phone number with fidelity, determining the duration of Rnor status, and the ideal timing for tax purposes when moving from the US to India.

Finding a CA for USA to India transfer

• Members inquired about contact details of a CA experienced in handling USA to India transfers, specifically regarding stocks and state tax based on residency tests.
• No specific references were found, so members sought recommendations from the group.
• Example: ‘Can someone please share contact of their CA who is well versed in handling USA to India transfer situation and experience of handling stocks/state tax based on residency test?’

Import tax on TVs brought from the US

• Members discussed the amount of import tax applicable to TVs imported from the US.
• The question of whether invoices or just the model number of the TV is required to compute depreciation was raised.
• Example: ‘For those who have shipped a TV from US to India: how much is the import tax? Do you need invoices or just the model number of the TV is used to compute depreciation?’

Retaining invested and unvested stocks after moving to India

• Members who were curious about the status of their invested and unvested stocks after moving to India raised this topic.
• No conclusion or preference was shared by any member regarding this matter.
• Example: ‘Anybody working at Amazon moved to India? I was curious to see if they still got their invested stocks after moving to India?’

Handling stock investments in a fidelity account

• A member had questions about managing their stock investments in their fidelity account.
• They wanted to know if they should update their address and phone number before or after moving.
• Example: ‘I spoke to fidelity they say I can keep the account and provide an international address and phone number. At what point should I update my address and phone number? Is it before or after moving?’

Determining the duration of Rnor status and ideal timing for tax purposes

• A member had inquiries about the duration of Rnor status and whether it depended on the duration of stay abroad and timing of R2I.
• They also sought recommendations for an online tool that could calculate the length of Rnor status based on provided details.
• Example: ‘Hi, have a question about rnor status. Is it a fixed period of x years or depends on duration of stay abroad and timing of R2I? Also, if it depends on duration, any of you know of an online tool where you can punch in details and it gives you the length of your rnor status?’

Sat, 30 Nov 2024

Considerations for Relocating to India

This chat conversation among members of the BackToIndia community revolves around various considerations for relocating to India. Topics discussed include the process of returning to the US after a move, filing taxes in the US and India, managing NRE/NRO bank accounts, options for managing E*TRADE and Fidelity accounts, and finding accountants with FEMA expertise for those returning from Canada.

Returning to the US after a move

• Members discuss the possibility of moving back to the US and the impact on their visa status and employment.
• It is concluded that if the priority date (PD) becomes current, obtaining an H1B extension beyond six years may not be possible.
• Members share insights and personal experiences on retaining the priority date and the process of restarting the H-1B visa application.

Filing taxes in the US and India

• Members share their experiences of being quoted high fees by consultants and discuss options for filing taxes in the US and India themselves.
• Suggestions are given to use Turbo Tax and the IRS website for filing US taxes.
• For Indian taxes, members recommend getting referrals from family members for Indian Chartered Accountants (CAs) and advise against having the same person handle taxes in both countries.

Managing NRE/NRO bank accounts

• Members discuss whether NRE/NRO accounts need to be converted to residents as soon as possible after returning to India or if they can be kept as NRE/NRO until the RNOR status is valid.
• No definitive conclusion is reached, but the topic sparks a discussion among members who share their personal experiences and preferences regarding managing NRE/NRO accounts.

Managing E*TRADE and Fidelity accounts

• Members discuss the options and limitations of managing E*TRADE and Fidelity accounts after relocating to India.
• Option 1: Transferring stocks from E*TRADE to Fidelity, but concerns arise regarding the handling of cost basis and tax implications.
• Option 2: Selling stocks in E*TRADE and repurchasing them in Fidelity, but this would reset the holding period of the stocks.
• Option 3: Using a PO box based US address as a solution for lack of a US address when managing E*TRADE accounts.
• Members provide additional suggestions and mention alternatives like Schwab as an option for managing accounts.

Finding accountants with FEMA expertise for returnees from Canada

• A member seeks recommendations for accountants with Foreign Exchange Management Act (FEMA) expertise for those returning to India from Canada.
• Another member suggests using services like SBI Mail Service to obtain a US address for banking purposes.
• Members also share that finding accountants with FEMA expertise for returnees from Canada has been mentioned in another group but the specific conversation cannot be found.